Tag: Profit

intercontinental

IHG: Profit over $1 billion for the first time | Strong travel demand drives profitability

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InterContinental Hotel Group (IHG) operating profit increased 23% to exceed $1 billion for the first time in 2023. While, after-tax profit increased to $750 million in 2023, up from $376 million a year earlier. Key indicator revenue per available room (RevPAR) rose 16% year-over-year thanks to strong trading following the lifting of travel restrictions imposed […]

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U.S. hotel profit reached 84% of 2019 level, labor rises slightly

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Gross operating profit for U.S. hotels improved to 84% of the comparable 2019 level, according to STR‘s June 2021 monthly P&L data release. Labor costs also rose from the previous month and in comparison with 2019.          Each of the key profitability metrics, on a per-available-room basis, came in higher than any month since February […]

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